Bloomberg reports on tax issues experienced by various celebrities, from Willie Nelson to Wesley Snipes, noting that in the past year, comedian Chris Tucker, supermodel Gisele Bündchen, the lead singer of Creed, and at least one of the Real Housewives have had reported run-ins with the IRS. Bloomberg gives the following reasons for such issues:

  • the costs of doing show business.
  • stars’ income can be as fickle as their fans.
  • they’re big in Japan, Milwaukee, and everywhere else.
  • sudden wealth syndrome.
  • leeches.

Read the full article at The Secret Tax Lives of the Rich and Famous – Bloomberg Business.

Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal.